CAVAGO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CAVAGO
Largest movements
- Tangible fixed assets -€8,489
down €8,489 (-8.0%), from €105,585 to €97,096
- Profit (loss) carried forward -€5,567
down €5,567 (-1.9%), from -€287,528 to -€293,095
- Other debts -€2,531
down €2,531 (-0.8%), from €330,784 to €328,252
- Depreciation -€1,916
down €1,916 (-18.4%), from €10,405 to €8,489
- Gross operating margin -€899
down €899 (-16.4%), from €5,469 to €4,570
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,603 | €97,157 | -€8,446 | -8.0% |
| Fixed assets | 21/28 | €105,585 | €97,096 | -€8,489 | -8.0% |
| Tangible fixed assets | 22/27 | €105,585 | €97,096 | -€8,489 | -8.0% |
| Land and buildings | 22 | €105,585 | €97,096 | -€8,489 | -8.0% |
| Current assets | 29/58 | €19 | €62 | +€43 | +232.8% |
| Cash at bank and in hand | 54/58 | €19 | €62 | +€43 | +232.8% |
| Total equity and liabilities | 10/49 | €105,603 | €97,157 | -€8,446 | -8.0% |
| Equity | 10/15 | -€225,528 | -€231,095 | -€5,567 | -2.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€287,528 | -€293,095 | -€5,567 | -1.9% |
| Amounts payable | 17/49 | €331,131 | €328,252 | -€2,879 | -0.9% |
| Amounts payable within one year | 42/48 | €331,131 | €328,252 | -€2,879 | -0.9% |
| Trade debts | 44 | €348 | - | -€348 | |
| Suppliers | 440/4 | €348 | - | -€348 | |
| Other amounts payable | 47/48 | €330,784 | €328,252 | -€2,531 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,405 | €8,489 | -€1,916 | -18.4% |
| Other operating charges | 640/8 | €1,649 | €1,620 | -€29 | -1.7% |
| Gross operating margin | 9900 | €5,469 | €4,570 | -€899 | -16.4% |
| Operating profit (loss) | 9901 | -€6,585 | -€5,539 | +€1,045 | +15.9% |
| Financial charges | 65/66B | - | €28 | +€28 | |
| Recurring financial charges | 65 | - | €28 | +€28 | |
| Profit (loss) for the period before taxes | 9903 | -€6,585 | -€5,567 | +€1,018 | +15.5% |
| Profit (loss) for the period | 9904 | -€6,585 | -€5,567 | +€1,018 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,585 | -€5,567 | +€1,018 | +15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.